Core Viewpoint - The implementation of the "Regulatory Measures for Import Goods under Exception Measures in Hainan Free Trade Port" aims to enhance regulatory requirements and leverage policy advantages to promote the development of new foreign trade formats [1] Group 1: Regulatory Framework - The "Prohibited and Restricted Import and Export Goods List" has been officially released and will take effect from the date of the Hainan Free Trade Port's closure operation [1] - The "Regulatory Measures" clarify the regulatory requirements and procedures for two categories of goods that are relaxed under the "Prohibited and Restricted List" [1][2] Group 2: Management of Import Goods - The import goods under exception measures are categorized into those exempt from import license management and those allowed for "two-way" bonded maintenance [2] - Goods exempt from import license management are limited to final users for self-use in Hainan Free Trade Port and cannot be circulated or resold within the island [2] - Current import license management includes 119 items, with 45 being ozone-depleting substances and 74 being old electromechanical products [2] Group 3: Bonded Maintenance Business - The "Regulatory Measures" outline the requirements for bonded maintenance business, including applicable subjects, project declaration processes, and conditions for suspension and termination [3] - The state has increased support for bonded maintenance business in Hainan, making its policies more favorable than those in other regions [3] - Eligible enterprises can conduct bonded maintenance for both the comprehensive bonded zone product catalog and the exception measures of the "Prohibited and Restricted List," which is expected to significantly promote the development of new foreign trade formats [3]

Core Viewpoint - The Hainan Provincial Government has issued a management approach for recognizing entities eligible for "zero tariff" benefits on imported goods, aiming to streamline the qualification process for such entities [1] Group 1: Policy Implementation - The management approach allows enterprises, public institutions, and private non-enterprise units in technology and education sectors to voluntarily apply for eligibility [1] - The list of eligible entities will be determined by the Hainan Provincial Government and can be adjusted dynamically as needed [1] Group 2: Application Process - Relevant departments will conduct a parallel review through the Hainan International Trade "Single Window" to verify whether the applicants meet the stipulated conditions [1] - Recognized eligible entities can apply for related tax benefits according to the relevant regulations [1]

Core Viewpoint - The article discusses the implementation of measures to enhance trade liberalization and facilitate the management of imported goods under the Hainan Free Trade Port framework [1] Group 1: Regulatory Framework - The measures are designed to improve the regulatory environment for imported goods in Hainan Free Trade Port, specifically addressing the management of goods that are exempt from import licenses [1] - The framework categorizes imported goods into two main types: those that have had import license management canceled and those allowed for "two-way external" bonded maintenance [1] Group 2: Import License Management - Goods that have had import license management canceled are restricted to production for self-use and cannot be resold or transferred [1] - Companies are not required to submit import licenses but must commit to the final use of the goods and are subject to verification [1] Group 3: Bonded Maintenance Business - Enterprises engaging in "two-way external" bonded maintenance must meet specific conditions and comply with relevant requirements [1] - A project application document must be prepared by companies wishing to undertake this type of business [1]

海南日报洋浦7月24日电(海南日报全媒体记者 黎鹏 通讯员 李发强)7月24日，省政协主席李荣灿在 儋州市围绕"解决经由洋浦港运往内地进口原油运输问题"提案开展专题调研，强调要切实强化责任担 当，高质量推进提案办理，持续发挥自贸港开放优势，助力洋浦港加快国际航运枢纽建设。 李荣灿在儋州市开展提案督办调研时强调 高质量推进提案办理 助力加快国际航运枢纽建设 李荣灿还前往海南金海浆纸业有限公司和光村镇雪茄烟叶种植基地，实地调研绿色甲醇生产使用、 雪茄烟叶产业发展等情况。 省政协秘书长罗时祥参加。 李荣灿走进国投(洋浦)油气储运有限公司，详细了解码头储罐设施建设和油品装卸、仓储状况，听 取推进洋浦港全球绿色甲醇加注示范基地建设情况汇报，并和提案人、相关部门、企业代表聚焦提案办 理情况深入交流。 李荣灿指出，加快实施"运输往来自由便利"政策，事关构建国内国际双循环重要交汇点，是更好发 挥洋浦作为海南自由贸易港"样板间"示范引领作用的题中应有之义。省政协委员聚焦"将洋浦港建设成 为国际油品中转港"提出相关提案，站位高、思考深、聚焦准、建言实，体现出以"政协之为"服务"发展 之需"的履职担当。希望各有关承办单位以提案办理 ...

Market Overview - The market showed strong fluctuations throughout the day, with the Shanghai Composite Index surpassing 3600 points and the ChiNext Index rising by 1.5% [1] - The Hainan Free Trade Zone sector experienced a surge, with nearly 20 stocks, including Hainan Airport and Hainan Expressway, hitting the daily limit [1] - Financial stocks also performed well, with Jinlong Co. hitting the limit and Zhinanceng rising over 7% to reach a new high [1] - Lithium mining stocks saw another rally, with Shengxin Lithium and Tianqi Lithium hitting the limit [1] - The rare earth permanent magnet sector was strong, with Baogang Co. and Guangsheng Nonferrous Metals also hitting the limit [1] - The Yajiang Hydropower Station concept stocks remained active, with China Power Construction and Poly United achieving four consecutive limits [1] - Overall, nearly 4400 stocks in the Shanghai and Shenzhen markets were in the green, with a total transaction volume of 1.87 trillion [1] Hot Topics Hainan Free Trade Port - The Hainan Free Trade Port concept saw significant gains, with stocks like Caesar Travel, Haixia Co., and Kangzhi Pharmaceutical hitting the limit [4] - The catalyst for this surge was a press conference held on July 23, introducing the construction of the Hainan Free Trade Port, which is set to officially start customs closure on December 18, 2025 [4] Yajiang Hydropower Station Concept Stocks - Yajiang Hydropower Station concept stocks continued to rise, with China Railway Industry and Tibet Tianlu hitting the limit, and others like Xining Special Steel and Shanhe Intelligent achieving four consecutive limits [7] - The total investment for the "Yajiang" project is approximately 705.6 billion, with an estimated annual construction investment of about 47 billion, accounting for 43% of the national hydropower basic construction investment in 2024 [9] Rare Earth Magnetic Materials - The rare earth magnetic materials sector saw a significant increase, with stocks like Zhongke Sanhuan, Baogang Co., and Guangsheng Nonferrous Metals hitting the limit [11] - The domestic rare earth price index has shown a clear upward trend, breaking through 192 points, marking a new high since early 2024 [11] - The tightening of supply and the integration of the entire rare earth industry chain are expected to lead to price increases in the medium to long term [12] Other Notable Sectors - The mosquito repellent concept, lithium batteries, pharmaceuticals, and consumer sectors also showed positive performance [13] - The Yajiang Hydropower Station high-level elimination stocks experienced the largest declines [13]

Group 1 - The A-share market showed an overall upward trend on July 24, with the Hainan sector experiencing significant growth, becoming one of the market's highlights [1][2] - The Hainan sector surged over 9% by midday, with multiple stocks hitting the daily limit, including Kangzhi Pharmaceutical, Hainan Airport, and Hainan Highway [4][6] - Major industry sectors such as retail, steel, and real estate saw gains exceeding 2%, while sectors like communication and banking underperformed [4] Group 2 - The China Electric Power Construction Company (China Power Construction) reached its daily limit, with trading volume exceeding 150 billion yuan, marking a near ten-year high [9] - The government announced that the Hainan Free Trade Port will officially start operations on December 18, 2025, with significant policy changes including an increase in zero-tariff goods from 21% to 74% [8] - The new policies will allow for a broader range of zero-tariff goods and more flexible trade management, enhancing the operational environment for businesses in Hainan [8]

Core Viewpoint - The recent announcement regarding the Hainan Free Trade Port has significantly boosted market sentiment, leading to a surge in related stocks, with expectations of long-term benefits for various sectors, particularly tourism and retail [1][2][11]. Summary by Sections Hainan Free Trade Port Announcement - The State Council announced that the Hainan Free Trade Port will officially start its full island customs closure on December 18, 2025, which is expected to enhance the region's trade and tourism capabilities [4][11]. Market Reaction - Following the announcement, Hainan-related stocks experienced a dramatic increase, with the entire sector rising over 9%, and specific companies like Kangzhi Pharmaceutical and China Duty Free Group reaching their daily limits [4][11]. Tax and Trade Policy Changes - The updated customs policies include a significant increase in the "zero tariff" goods from 1,900 to approximately 6,600 items, covering 74% of all goods, which is a 53 percentage point increase compared to before the closure [5][8]. - The scope of beneficiaries for the "zero tariff" policy has expanded to include various enterprises and organizations with actual import needs, enhancing the competitiveness of local industries [9]. Long-term Benefits for Industries - The trade closure is expected to accelerate the development of Hainan as an international tourism consumption center, benefiting the tourism industry, including scenic spots, hotels, and retail services [2][11]. - The continued implementation of duty-free policies is anticipated to maintain the competitive edge of duty-free operators, while the overall attractiveness of Hainan is expected to drive growth in the tourism retail market [11][12]. Implications for Specific Companies - Companies in the travel agency sector are likely to benefit from increased demand for professional services as Hainan becomes a key destination for international travelers [12]. - Duty-free retailers may face challenges due to increased competition but will still have potential for growth driven by policy and demand [12].

Core Viewpoint - The announcement of the "List of Prohibited and Restricted Import and Export Goods and Items" for Hainan Free Trade Port aims to enhance trade liberalization and facilitation, effective from the date of the port's closure operation [1]. Group 1: Trade Management Transparency - The list significantly improves the transparency and openness of goods trade management in Hainan Free Trade Port [1]. - It consolidates existing prohibitions and restrictions on imports and exports between Hainan Free Trade Port and other countries or regions outside of China [2]. Group 2: Import Exceptions - The list specifies exceptions for certain goods, including the cancellation of import licenses for 60 product codes, which must be applied for by the end user and cannot circulate or be resold on the island [1]. - It allows for "two ends outside" bonded maintenance for 38 product codes, which cannot be used or circulated within China [1]. Group 3: Regulatory Framework - The management measures for goods listed in the current management measures list are based on national laws and regulations, including the Foreign Trade Law and the Import and Export Management Regulations [2]. - Goods not listed in the current management measures can freely enter and exit the port, subject to national regulations [2][3].

每经记者｜杨建 每经编辑｜彭水萍 ｜2025年7月24日 星期四｜ NO.1 香港金管局总裁余伟文：将于下周公布"稳定币发行人发牌制度"的摘要说明 7月23日，香港金管局总裁余伟文发文再谈稳定币。余伟文称，《稳定币条例》通过以后，香港金管局 立即落实条例的监管和反洗钱两份指引，征求市场意见，目前正根据反馈意见适当调整指引的要求，争 取在7月底公布。预期最终的定稿与咨询草稿不会有太大的调整，而鉴于国际监管的共同关注，在反洗 钱方面会订立更严谨的要求，尽量减低稳定币成为洗钱工具的风险，务求让香港稳定币市场有序健康发 展。此外，余伟文称，将于下周公布"稳定币发行人发牌制度"的摘要说明，文件会阐述香港金管局接受 和处理牌照申请的安排。 NO.2 全球RWA数据产业大会暨产学研RWA全球产业联盟启动 7月23日，由中国移动通信联合会、中国通信工业协会指导，多家机构联合发起"全球RWA数据产业大 会暨产学研RWA全球产业联盟启动"活动，该活动定于7月30日在中国香港召开。本次大会的核心使命 之一，为推动"香港RWA全球产业联盟"落地。该联盟由中国通信工业协会区块链专业委员会、中国移 动通信联合会人工智能与元宇宙产业工作委 ...

Core Viewpoint - The Hainan Free Trade Port (FTP) is set to officially start its full island closure on December 18, 2025, marking a significant milestone in China's efforts to expand its openness and establish a new economic system [1][2]. Group 1: Policy and Economic Development - The Hainan FTP has established a preliminary policy system since the release of the overall plan in June 2020, facilitating the flow of people, goods, capital, and data [1]. - Over the past five years, Hainan has attracted 102.5 billion yuan in foreign investment, with an average annual growth rate of 14.6%, and established 8,098 new foreign-funded enterprises, growing at an average rate of 43.7% [2]. - The province's GDP structure has improved, with four leading industries—tourism, modern services, high-tech industries, and tropical agriculture—accounting for 67% of the GDP, an increase of 13.7 percentage points over five years [2]. Group 2: Tax and Trade Policies - The FTP will implement a "zero tariff" policy for imported goods, expanding the list of zero-tariff items from 1,900 to approximately 6,600, covering about 74% of all product categories [4]. - Goods imported under the zero-tariff policy will be exempt from import taxes, and the circulation of these goods among eligible entities will also be tax-free [3][4]. Group 3: Regulatory Framework and Innovation - The customs authority will enhance the regulatory framework to facilitate the "one line" import and "two lines" export system, improving customs clearance efficiency [5]. - The Hainan government aims to integrate institutional innovation to enhance competitiveness and align with international trade rules, focusing on the development of new business models and industries [6].